The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-09-16
CONDITION OF THE MARKETS
A Better Feeling in Wheat, but Prices
Show No Very important Changes.
Corn Heavy Because Of Selling by Holders Who
Have Vainly Looked for an Advance
Oats Easy-Provisions Dull and Lower.
MONEY, BONDS AND STOCKS.
The Market Opens Quiet but Firm and Closes
Weak and Fevsrish.

The Market Opens Quiet but Firm and Closes
Weak and Fevsrish.
NEW YORK, Sept. 15.-Money on call was
buoyant, ranging from to per cent, the last
loan being made at g. and closing at bid.
Prime mercantile paper, z d9 per cent
Sterling exchange was active and steady at
81. s04 1901 for sixty-days. and "a. S4s "a S4aa
for demand.
The total sales OF stocks today were BOG. sol
shares. including the following: Delaware.
Lackawanna 81 Western, %, 900; Delaware &
Hudson, $780, Erie, $3.50; Lake Shore. 1880;
louisville & Nashville. 1920; Missouri Pacific
tl3, $780, Northwestern, 3, $50; New Jersey Central
$500; Oregon Transcontiuental. 1910; Pacific
Mail, I, 400; Reading, $500; ST. Paul, 1880;
ST. Paul & Omaha, 2. 725; Union Pacific, 800;
Western Union. 26s95.
The stock market was quiet and firm in the
forenoon, but weak and feversh later in the
day. and again prices materially lower.
There was moderate buying, with conserva-
lively bullsh sentiment, which was aided by
the settlement of the Reading with the miners
and the Missouri Pacific statement and the lat
ter stock was prominent in the advance. Later
many groundess rumors Of impend ing failures
were circulated, which created considerable in
aenaton among the Stock Exchange authori-
ties, out the authors were not discovered. the
buying lacked the vim necessary TO carry the
market further. and the bears" took advantage
Of this to make determined attack upon
Pacific Mail. which was quickly broken
quickly spr cad to the other active stocks. the
coalers and grangers being specially weak.
Sales of Chicago, Burlington q Quincy and
Rock Island were made sixty-day options
at per cent. below the market. Something
was made of the stories of fresh cuts in passen-
ger rates on Western and Southern roads, and
especially by story of large failure IN the iron
business in Pittsburg. The movement met with
no adequate resistance, and little progress was
made in the rally. The bulk OF the selling. as
usual, was done by the board-room traders, and
it thought that the short interest was
largely increased day. The opening quiet
but firm at advances over yesterdays figures ex-
tending to per cent. and further fractions were
made in the early trading, and although set back
was brought about in the first hour, the losses
about the best of the day. The raid upon
Pacific Mail was started after that time, and By
half past the entire market was decidedly
weak on heavily increased business. The drop
was not checked until delivery hour, when all
the active stocks were down from fractions TO
per cent, and of tho inactive list per cent.
slight rally followed, but at the close the market
was again weak though dull at the lowest
figures reached. With but few unim portant
ceptions the entire active list is lower, and Lake
Erie a. Western preferred lost z Michigan Cen
trail and Pacific Mail. II; Manhattan, II; Jer-
sey Central, Il; Texas Pacific IL; Omaha. 4;
New England, Ii; Manitoba and Richmond 80
West Point, l.
The railroad bond market lacked any special
feature of note. Sales, $780,, 900. Prices were
weak throughout the day, though a few ad
vances were recorded New York. Lackawanna
& Western fves lost 2. at 10Y; Detroit, Mack
inack & Marquette land grants, q at 90; Inter
national 81 Great Northern firsts, 2. at Ill:
Oregon improvement frsts. 81, at 80, and
Richmond 81 West Point trust SKIES, q. at Sia.
Government bonds were dull and steady.
State bonds were dull and steady. Closing